GBP/USD sustains positive gains, top formed?

FXstreet.com (New York) – The GBP/USD foreign exchange rate has had an uneven trading day thus far, approaching key areas in the daily charts.

GBP/USD strategic bias

According to Axel Rudolph, an analyst at Commerzbank, “The GBP/USD has come close to but did not quite reach the uptrend channel resistance line, 200-week moving average and the June peak at 1.5716/55 before rapidly declining. Another interim top is now likely to be in place. For this to be confirmed it will have to fall through the mid-August low at 1.5424. En route is the 200-day moving average at 1.5515 and the …read more